Formula One owner denies replacing Ecclestone

Global Motorsport Media

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Photo by: Alessio Morgese

F1 owner CVC on Sunday insisted it has no plans to replace the sport's chief executive Bernie Ecclestone.

The one line media statement, reported by Bloomberg, made reference to recent media speculation -- presumably related to the 81-year-old's involvement in the Gerhard Gribkowsky bribery scandal and a separate $100 million lawsuit.